Grant Thornton survey finds private equity on defensive
Industry feels unjustly criticised
Nearly three-quarters of private equity executives feel they have high
ethical standards, while almost half think the left-wing press is against them,
according to a new survey by Grant
Thornton.
The firm questioned 100 private equity executives involved in deals worth at
least £5m and found that 73% regarded their industry as having high ethical
standards.
Asked whether their own firms had a formal code of ethics, 24% said yes,
two-thirds claimed to have an informal code and 7% admitted to having no written
code at all.
‘The clear message coming through the survey is that the private equity
industry believes its image in the media is unfairly represented and that its
ethical standards are far higher than it is being given credit for,’ said
Mat
Bhagrath at Grant Thornton.
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